<SEC-DOCUMENT>0000869392-24-002011.txt : 20241011
<SEC-HEADER>0000869392-24-002011.hdr.sgml : 20241011
<ACCEPTANCE-DATETIME>20241011111524
ACCESSION NUMBER:		0000869392-24-002011
CONFORMED SUBMISSION TYPE:	N-CEN
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20240731
FILED AS OF DATE:		20241011
DATE AS OF CHANGE:		20241011
EFFECTIVENESS DATE:		20241011

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PUTNAM PREMIER INCOME TRUST
		CENTRAL INDEX KEY:			0000827773
		ORGANIZATION NAME:           	
		IRS NUMBER:				042995046
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1117

	FILING VALUES:
		FORM TYPE:		N-CEN
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05452
		FILM NUMBER:		241366740

	BUSINESS ADDRESS:	
		STREET 1:		100 FEDERAL STREET
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110
		BUSINESS PHONE:		6172921000

	MAIL ADDRESS:	
		STREET 1:		100 FEDERAL STREET
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-CEN
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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          <officeName>State Street Bank and Trust Company  </officeName>
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          <directorName>Trust Jane E</directorName>
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      <isMaterialWeakness>N</isMaterialWeakness>
      <isOpinionOffered>N</isOpinionOffered>
      <valuationMethodsChanges isMaterialChange="Y">
        <valuationMethodsChange>
          <dateOfChange>2024-07-22</dateOfChange>
          <changeExplanation>The mean between the last reported bid and ask prices, the mid price will be used in place of the last reported bid price for securities where no sales prices are reported</changeExplanation>
          <assetType>Debt</assetType>
          <investmentType>Debt ,excluding municipal bonds which already use mid- price</investmentType>
          <statutoryRegulatoryBasis>N/A</statutoryRegulatoryBasis>
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        <seriesInfo seriesName="Putnam Premier Income Trust" seriesId="N/A"/>
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        <didFundLendSecurities>N</didFundLendSecurities>
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            <securitiesAgentName>Goldman Sachs Bank USA</securitiesAgentName>
            <securitiesAgentLei>KD3XUN7C6T14HNAYLU02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
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                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
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              <didIndemnificationRights>N</didIndemnificationRights>
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        <paymentToAgentManagers>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
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        <avgPortfolioSecuritiesValue>0.00</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>0.00</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 23c-1 (17 CFR 270.23c-1)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 17a-6 (17 CFR 270.17a-6)</relyOnRuleType>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-4 (17 CFR 270.12d1-4)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4 (17 CFR 270.18f-4)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4(d)(ii) (17 CFR 270.18f-4(d)(ii))</relyOnRuleType>
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        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
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            <investmentAdviserName>Franklin Advisors, Inc.  </investmentAdviserName>
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          <pricingService>
            <pricingServiceName>Reuters (loan)</pricingServiceName>
            <pricingServiceLei>549300561UZND4C7B569</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>PRICESERVE</pricingServiceName>
            <pricingServiceLei>54930015EWCI4VNCZP82</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Markit</pricingServiceName>
            <pricingServiceLei>549300HLPTRASHS0E726</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>State Street Bank and Trust Company</custodianName>
            <custodianLei>N/A</custodianLei>
            <custodianStateCountry custodianState="US-MA" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
            <otherCustodianDesc>N</otherCustodianDesc>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>Putnam Investor Services, Inc.  </shareholderServiceAgentName>
            <shareholderServiceAgentLei>N/A</shareholderServiceAgentLei>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MA" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>Y</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>Franklin Templeton Services, LLC</adminName>
            <adminLei>N/A</adminLei>
            <adminStateCountry adminState="US-CA" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>Y</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>Y</isAdminHiredOrTerminated>
        <brokers>
          <broker>
            <brokerName>MSCO - MORGAN STANLEY &amp; CO. LLC</brokerName>
            <brokerFileNo>8-15869</brokerFileNo>
            <brokerCrdNo>000008209</brokerCrdNo>
            <brokerLei>9R7GPTSO7KV3UQJZQ078</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>16759.32</grossCommission>
          </broker>
          <broker>
            <brokerName>CITI - CITIBANK, N.A.</brokerName>
            <brokerFileNo>8-8177</brokerFileNo>
            <brokerCrdNo>000007059</brokerCrdNo>
            <brokerLei>E57ODZWZ7FF32TWEFA76</brokerLei>
            <brokerStateCountry brokerState="US-FL" brokerCountry="US"/>
            <grossCommission>8369.23</grossCommission>
          </broker>
          <broker>
            <brokerName>JPMS - J.P. MORGAN SECURITIES, LLC.</brokerName>
            <brokerFileNo>8-35008</brokerFileNo>
            <brokerCrdNo>000000079</brokerCrdNo>
            <brokerLei>ZBUT11V806EZRVTWT807</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>718.48</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>25847.03</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>JPMS - J.P. MORGAN SECURITIES, LLC.</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>3686691940.89</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>CGMI - CITIGROUP GLOBAL MARKETS INC.</principalName>
            <principalFileNo>8-8177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>3551600197.53</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>MSCO - MORGAN STANLEY &amp; CO. LLC</principalName>
            <principalFileNo>8-15869</principalFileNo>
            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>2740215444.5</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>GSCO - GOLDMAN SACHS &amp; CO LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>2538126355.21</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BCAP - BARCLAYS CAPITAL, INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1928162959.53</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>WCHV - WELLS FARGO SECURITIES, LLC</principalName>
            <principalFileNo>8-65876</principalFileNo>
            <principalCrdNo>000126292</principalCrdNo>
            <principalLei>VYVVCKR63DVZZN70PB21</principalLei>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>1566208863.08</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>MLCO - BofA Securities, Inc.</principalName>
            <principalFileNo>8-7221</principalFileNo>
            <principalCrdNo>000007691</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1405063349.2</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>MZHO - MIZUHO SECURITIES USA LLC</principalName>
            <principalFileNo>8-37710</principalFileNo>
            <principalCrdNo>000019647</principalCrdNo>
            <principalLei>7TK5RJIZDFROZCA6XF66</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>552954176.36</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>RBCA - ROYAL BANK OF CANADA</principalName>
            <principalFileNo>8-45411</principalFileNo>
            <principalCrdNo>000031194</principalCrdNo>
            <principalLei>ES7IP3U3RHIGC71XBU11</principalLei>
            <principalCountry>CA</principalCountry>
            <principalTotalPurchaseSale>410266000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>DAWA - DAIWA CAPITAL MARKETS AMERICA INC.</principalName>
            <principalFileNo>8-12242</principalFileNo>
            <principalCrdNo>000001576</principalCrdNo>
            <principalLei>M67H5PRC0NQKM73ZAS82</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>144650742.19</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>18717454976.53</principalAggregatePurchase>
        <isBrokerageResearchPayment>Y</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>364085632.00</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00</dailyAvgNetAssets>
      </managementInvestmentQuestion>
    </managementInvestmentQuestionSeriesInfo>
    <closedEndManagementInvestment>
      <securityRelatedItems>
        <securityRelatedItem>
          <description>Common stock</description>
          <securityClassTitle>COMMON STOCK</securityClassTitle>
          <commonStocks>
            <commonStock commonStockExchange="ARCD" commonStockTickerSymbol="PPT"/>
          </commonStocks>
        </securityRelatedItem>
      </securityRelatedItems>
      <isRightsOffering>N</isRightsOffering>
      <isSecondaryOffering>N</isSecondaryOffering>
      <repurchaseSecurities isRepurchaseSecurity="Y">
        <repurchaseSecurityType>Common stock</repurchaseSecurityType>
        <otherRepurchaseSecurityDesc>N/A</otherRepurchaseSecurityDesc>
      </repurchaseSecurities>
      <isDefaultLongTermDebt>N</isDefaultLongTermDebt>
      <isDividendsInArrears>N</isDividendsInArrears>
      <isSecuritiesModified>N</isSecuritiesModified>
      <managementFee>0.750</managementFee>
      <netOperatingExpenses>0.94</netOperatingExpenses>
      <marketPricePerShare>3.63</marketPricePerShare>
      <netAssetValuePerShare>3.85</netAssetValuePerShare>
    </closedEndManagementInvestment>
    <attachmentsTab>
      <isLegalProceedings>false</isLegalProceedings>
      <isProvisionFinancialSupport>false</isProvisionFinancialSupport>
      <isIPAReportInternalControl>true</isIPAReportInternalControl>
      <isChangeAccPrinciples>false</isChangeAccPrinciples>
      <isInfoRequiredEO>false</isInfoRequiredEO>
      <isOtherInfoRequired>false</isOtherInfoRequired>
    </attachmentsTab>
    <signature registrantSignedName="Putnam Premier Income Trust" signedDate="2024-10-10" signature="Kevin R Blatchford" title="Assistant Treasuer"/>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>INTERNAL CONTROL RPT
<SEQUENCE>2
<FILENAME>G.1.a.iii073.txt
<DESCRIPTION>INFORMATION ABOUT THE REGISTRANT
<TEXT>


Report of Independent Registered Public Accounting Firm

To the Board of Trustees and Shareholders of Putnam Premier
Income Trust:

In planning and performing our audit of the financial statements
of Putnam Premier Income Trust (the  Fund ) as of and for the
year ended July 31, 2024, in accordance with the standards of
the Public Company Accounting Oversight Board (United States)
(PCAOB), we considered the Funds internal control over financial
reporting, including controls over safeguarding securities, as a
basis for designing our auditing procedures for the purpose of
expressing our opinion on the financial statements and to comply
with the requirements of Form N CEN, but not for the purpose of
expressing an opinion on the effectiveness of the Funds internal
control over financial reporting.  Accordingly, we do not
express an opinion on the effectiveness of the Funds internal
control over financial reporting.

The management of the Fund is responsible for establishing and
maintaining effective internal control over financial reporting.
In fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and
related costs of controls.  A companys internal control over
financial reporting is a process designed to provide reasonable
assurance regarding the reliability of financial reporting and
the preparation of financial statements for external purposes in
accordance with generally accepted accounting principles.  A
companys internal control over financial reporting includes
those policies and procedures that (1) pertain to the
maintenance of records that, in reasonable detail, accurately
and fairly reflect the transactions and dispositions of the
assets of the company; (2) provide reasonable assurance that
transactions are recorded as necessary to permit preparation of
financial statements in accordance with generally accepted
accounting principles, and that receipts and expenditures of the
company are being made only in accordance with authorizations of
management and directors of the company; and (3) provide
reasonable assurance regarding prevention or timely detection of
unauthorized acquisition, use or disposition of a companys
assets that could have a material effect on the financial
statements.

Because of its inherent limitations, internal control over
financial reporting may not prevent or detect misstatements.
Also, projections of any evaluation of effectiveness to future
periods are subject to the risk that controls may become
inadequate because of changes in conditions, or that the degree
of compliance with the policies or procedures may deteriorate.

A deficiency in internal control over financial reporting exists
when the design or operation of a control does not allow
management or employees, in the normal course of performing
their assigned functions, to prevent or detect misstatements on
a timely basis.  A material weakness is a deficiency, or a
combination of deficiencies, in internal control over financial
reporting, such that there is a reasonable possibility that a
material misstatement of the companys annual or interim
financial statements will not be prevented or detected on a
timely basis.

Our consideration of the Funds internal control over financial
reporting was for the limited purpose described in the first
paragraph and would not necessarily disclose all deficiencies in
internal control over financial reporting that might be material
weaknesses under standards established by the PCAOB.  However,
we noted no deficiencies in the Funds internal control over
financial reporting and its operation, including controls over
safeguarding securities, that we consider to be material
weaknesses as defined above as of July 31, 2024.

?







This report is intended solely for the information and use of
the Board of Trustees of Putnam Premier Income Trust and the
Securities and Exchange Commission and is not intended to be and
should not be used by anyone other than these specified parties.

PricewaterhouseCoopers LLP
Boston, Massachusetts
September 16, 2024




1 of 1
1 of 1

PricewaterhouseCoopers LLP, 101 Seaport Boulevard, Suite 500, Boston, MA 02210
T: (617)530 5000, F: (617) 530 5001, www.pwc.com/us

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>ADVISORY CONTRACTS
<SEQUENCE>3
<FILENAME>G.1.b.iii073.txt
<DESCRIPTION>INFORMATION ABOUT THE REGISTRANT
<TEXT>

PUTNAM PREMIER INCOME TRUST MANAGEMENT
CONTRACT
      This Management Contract is dated as of January 1, 2024
between PUTNAM PREMIER INCOME TRUST, a Massachusetts business
trust (the  Fund ), and PUTNAM INVESTMENT MANAGEMENT, LLC, a
Delaware limited liability company (the  Manager ).
In consideration of the mutual covenants herein contained, it is
agreed as follows:
1.	SERVICES TO BE RENDERED BY MANAGER TO FUND.
      (a)	The Manager, at its expense, will furnish
continuously an investment program for the Fund or, in the
case of a Fund that has divided its shares into two or more
series under Section 18(f)(2) of the Investment Company Act
of 1940, as amended (the  1940 Act ), each series of the
Fund identified from time to time on Schedule A to this
Contract (each reference in this Contract to  a Fund  or to
the Fund  is also deemed to be a reference to any existing
series of the Fund, as appropriate in the particular
context), will determine what investments will be
purchased, held, sold or exchanged by the Fund and what
portion, if any, of the assets of the Fund will be held
uninvested and will, on behalf of the Fund, make changes in
such investments.  Subject always to the control of the
Trustees of the Fund and except for the functions carried
out by the officers and personnel referred to in Section
1(d), the Manager will also manage, supervise and conduct
the other affairs and business of the Fund and matters
incidental thereto.  In the performance of its duties, the
Manager will comply with the provisions of the Agreement
and Declaration of Trust and By Laws of the Fund and the
stated investment objectives, policies and restrictions of
the Fund, will use its best efforts to safeguard and
promote the welfare of the Fund and to comply with other
policies which the Trustees may from time to time determine
and will exercise the same care and diligence expected of
the Trustees.
      (b)	The Manager, at its expense, except as such
expense is paid by the Fund as provided in Section 1(d),
will furnish (1) all necessary investment and management
facilities, including salaries of personnel, required for
it to execute its duties faithfully; (2) suitable office
space for the Fund; and (3) administrative facilities,
including bookkeeping, clerical personnel and equipment
necessary for the efficient conduct of the affairs of the
Fund, including determination of the net asset value of the
Fund, but excluding shareholder accounting services.
Except as otherwise provided in Section 1(d), the Manager
will pay the compensation, if any, of the officers of the
Fund.
      (c)	The Manager, at its expense, will place all
orders for the purchase and sale of portfolio investments
for the Funds account with brokers or dealers selected by
the Manager.  In the selection of such brokers or dealers
and the placing of such orders, the Manager will use its
best efforts to obtain for the Fund the most favorable
price and execution available, except to the extent it may
be permitted to pay higher brokerage commissions for
brokerage and research services as described below.  In
using its best efforts to obtain for the Fund the most
favorable price and execution available, the Manager,
bearing in mind the Funds best interests at all times, will
consider all factors it deems relevant, including by way of
illustration, price, the size of the transaction, the
nature of the market for the security, the amount of the
commission, the timing of the transaction taking into
account market prices and trends, the reputation,
experience and financial stability of the broker or dealer
involved and the quality of service rendered by the broker
or dealer in other transactions.  Subject to such policies
as the Trustees of the Fund may determine, the Manager will
not be deemed to have acted unlawfully or to have breached
any duty created by this Contract or otherwise solely by
reason of its having caused the Fund to pay a broker or
dealer that provides brokerage and research services to the
Manager an amount of commission for effecting a portfolio
investment transaction in excess of the amount of
commission another broker or dealer would have charged for
effecting that transaction, if the Manager determines in
good faith that such amount of commission was reasonable in
relation to the value of the brokerage and research
services provided by such broker or dealer, viewed in terms
of either that particular transaction or the Managers
overall responsibilities with respect to the Fund and to
other clients of the Manager as to which the Manager
exercises investment discretion.  The Manager agrees that
in connection with purchases or sales of portfolio
investments for the Funds account, neither the Manager nor
any officer, director, employee or agent of the Manager
shall act as a principal or receive any commission other
than as provided in Section 3.
      (d)	The Fund will pay or reimburse the Manager for
the compensation in whole or in part of such officers of
the Fund and persons assisting them as may be determined
from time to time by the Trustees of the Fund.  The Fund
will also pay or reimburse the Manager for all or part of
the cost of suitable office space, utilities, support
services and equipment attributable to such officers and
persons as may be determined in each case by the Trustees
of the Fund.  The Fund will pay the fees, if any, of the
Trustees of the Fund.
      (e)	The Manager will not be obligated to pay any
expenses of or for the Fund not expressly assumed by the
Manager pursuant to this Section 1 other than as provided
in Section 3.
      (f)	Subject to the prior approval of a majority of
the Trustees, including a majority of the Trustees who are
not  interested persons  and, to the extent required by the
1940 Act and the rules and regulations under the 1940 Act,
subject to any applicable guidance or interpretation of the
Securities and Exchange Commission or its staff, by the
shareholders of the Fund, the Manager may, from time to
time, delegate to a sub adviser or sub administrator any of
the Managers duties under this Contract, including the
management of all or a portion of the assets being managed.
In all instances, however, the Manager must oversee the
provision of delegated services, the Manager must bear the
separate costs of employing any sub adviser or sub
administrator, and no delegation will relieve the Manager
of any of its obligations under this Contract.
2.	OTHER AGREEMENTS, ETC.
      It is understood that any of the shareholders, Trustees,
officers and employees of the Fund may be a shareholder,
director, officer or employee of, or be otherwise interested in,
the Manager, and in any person controlled by or under common
control with the Manager, and that the Manager and any person
controlled by or under common control with the Manager may have
an interest in the Fund.  It is also understood that the Manager
and any person controlled by or under common control with the
Manager may have advisory, management, service or other
contracts with other organizations and persons and may have
other interests and business.
3.	COMPENSATION TO BE PAID BY THE FUND TO THE MANAGER.
      The Fund will pay to the Manager as compensation for the
Managers services rendered, for the facilities furnished and for
the expenses borne by the Manager pursuant to paragraphs (a),
(b), and (c) of Section 1, a fee, based on the Funds Average Net
Assets, computed and paid quarterly at the annual rates set
forth on Schedule B attached to this Contract, as from time to
time amended.
       Average Net Assets  means the average of the weekly
determinations of the difference between the total assets of the
Fund (including any assets attributable to leverage for
investment purposes) and the total liabilities of the Fund
(excluding liabilities incurred in connection with leverage for
investment purposes), determined at the close of the last
business day of each week, for each week which ends during the
quarter.  The fee is payable for each quarter within 30 days
after the close of the quarter.  As used in this Section 3,
leverage for investment purposes  means any incurrence of
indebtedness the proceeds of which are to be invested in
accordance with the Funds investment objective.  For purposes of
calculating Average Net Assets, liabilities associated with any
instruments or transactions used to leverage the Funds portfolio
for investment purposes (whether or not such instruments or
transactions are  covered  within the meaning of the 1940 Act
and the rules and regulations thereunder, giving effect to any
interpretations of the Securities and Exchange Commission and
its staff) are not considered liabilities.  For purposes of
calculating Average Net Assets, the total assets of the Fund
will be deemed to include (a) any proceeds from the sale or
transfer of an asset (the  Underlying Asset ) of the Fund to a
counterparty in a reverse repurchase or dollar roll transaction
and (b) the value of such Underlying Asset as of the relevant
measuring date.
      In the event that, during any period for which payments of
interest or fees (whether designated as such or implied) are
payable in connection with any indebtedness or other obligation
of the Fund incurred for investment purposes (a  Measurement
Period ), the amount of interest payments and fees with respect
to such indebtedness or other obligation, plus additional
expenses attributable to any such leverage for investment
purposes for such Measurement Period, exceeds the portion of the
Funds net income and net short term capital gains (but not long
term capital gains) accruing during such Measurement Period as a
result of the fact that such indebtedness or other obligation
was outstanding during the Measurement Period, then the fee
payable to the Manager
pursuant to this Section 3 shall be reduced by the amount of
such excess; provided, however, that the amount of such
reduction for any such Period shall not exceed the amount
determined by multiplying (i) the aggregate value of all assets
representing leverage for investment purposes by (ii) the
percentage of the Average Net Assets of the Fund which the fee
payable to the Manager during such Measurement Period pursuant
to this Section 3 would constitute without giving effect to such
reduction.  The amount of such reduction attributable to any
Measurement Period shall reduce the amount of the next quarterly
payment of the fee payable pursuant to this Section 3 following
the end of such Measurement Period, and of any subsequent
quarterly or more frequent payments, as may be necessary.  The
expenses attributable to leverage for investment purposes and
the portion of the Funds net income and net short term capital
gains accruing during any Measurement Period as a result of the
fact that leverage for investment purposes was outstanding
during such Measurement Period shall be determined by the
Trustees of the Fund.
      The fees payable by the Fund to the Manager pursuant to
this Section 3 will be reduced by any commissions, fees,
brokerage or similar payments received by the Manager or any
affiliated person of the Manager in connection with the purchase
and sale of portfolio investments of the Fund, less any direct
expenses approved by the Trustees incurred by the Manager or any
affiliated person of the Manager in connection with obtaining
such payments.
      In the event that expenses of the Fund for any fiscal year
exceed the expense limitation on investment company expenses
imposed by any statute or regulatory authority of any
jurisdiction in which shares of the Fund are qualified for offer
or sale, the compensation due the Manager for such fiscal year
will be reduced by the amount of excess by a reduction or refund
thereof.  In the event that the expenses of the Fund exceed any
expense limitation which the Manager may, by written notice to
the Fund, voluntarily declare to be effective subject to such
terms and conditions as the Manager may prescribe in such
notice, the compensation due the Manager will be reduced, and if
necessary, the Manager will assume expenses of the Fund, to the
extent required by the terms and conditions of such expense
limitation.
      If the Manager serves for less than the whole of a quarter,
the foregoing compensation will be prorated.
4.	ASSIGNMENT TERMINATES THIS CONTRACT; AMENDMENTS OF THIS
CONTRACT.
      This Contract will automatically terminate, without the
payment of any penalty, in the event of its assignment, provided
that no delegation of responsibilities by the Manager pursuant
to Section 1(f) will be deemed to constitute an assignment.  No
provision of this Contract may be changed, waived, discharged or
terminated orally, but only by an instrument in writing signed
by the party against which enforcement of the change, waiver,
discharge or termination is sought.  No amendment of this
Contract is effective until approved in a manner consistent with
the 1940 Act, the rules and regulations under the 1940 Act and
any applicable guidance or interpretation of the Securities and
Exchange Commission or its staff.
5.	EFFECTIVE PERIOD AND TERMINATION OF THIS CONTRACT.
      This Contract is effective upon its execution and will
remain in full force and effect as to a Fund continuously
thereafter (unless terminated automatically as set forth in
Section 4 or terminated in accordance with the following
paragraph) through June 30, 2025, and will continue in effect
from year to year thereafter so long as its continuance is
approved at least annually by (i) the Trustees, or the
shareholders by the affirmative vote of a majority of the
outstanding shares of the respective Fund, and (ii) a majority
of the Trustees who are not interested persons of the Fund or of
the Manager, by vote cast in person at a meeting called for the
purpose of voting on such approval.
      Either party hereto may at any time terminate this Contract
as to a Fund by not less than 60 days written notice delivered
or mailed by registered mail, postage prepaid, to the other
party.  Action with respect to a Fund may be taken either (i) by
vote of a majority of the Trustees or (ii) by the affirmative
vote of a majority of the outstanding shares of the respective
Fund.
      Termination of this Contract pursuant to this Section 5
will be without the payment of any penalty.
6.	CERTAIN DEFINITIONS.
      For the purposes of this Contract, the  affirmative vote of
a majority of the outstanding shares  of a Fund means the
affirmative vote, at a duly called and held meeting of
shareholders of the respective Fund, (a) of the holders of 67%
or more of the shares of the Fund present (in person or by
proxy) and entitled to vote at the meeting, if the holders of
more than 50% of the outstanding shares of the Fund entitled to
vote at the meeting are present in person or by proxy or (b) of
the holders of more than 50% of the outstanding shares of the
Fund entitled to vote at the meeting, whichever is less.
For the purposes of this Contract, the terms  affiliated
person,   control,
 interested person  and  assignment  have their respective
meanings defined in the 1940 Act, subject, however, to the rules
and regulations under the 1940 Act and any applicable guidance
or interpretation of the Securities and Exchange Commission or
its staff; the term  approve at least annually  will be
construed in a manner consistent with the 1940 Act and the rules
and regulations under the 1940 Act and any applicable guidance
or interpretation of the Securities and Exchange Commission or
its staff; and the term  brokerage and research services  has
the meaning given in the Securities Exchange Act of 1934 and the
rules and regulations under the Securities Exchange Act of 1934
and under any applicable guidance or interpretation of the
Securities and Exchange Commission or its staff.
7.	NON LIABILITY OF MANAGER.
      In the absence of willful misfeasance, bad faith or gross
negligence on the part of the Manager, or reckless disregard of
its obligations and duties hereunder, the Manager shall not be
subject to any liability to the Fund or to any shareholder of
the Fund for any act or omission in the course of, or connected
with, rendering services hereunder.
8.	LIMITATION OF LIABILITY OF THE TRUSTEES, OFFICERS, AND
SHAREHOLDERS.
      A copy of the Agreement and Declaration of Trust of the
Fund is on file with the Secretary of The Commonwealth of
Massachusetts, and notice is hereby given that this instrument
is executed on behalf of the Trustees of the Fund as Trustees
and not individually and that the obligations of or arising out
of this instrument are not binding upon any of the Trustees,
officers or shareholders individually but are binding only upon
the assets and property of the respective Fund.



IN WITNESS WHEREOF, PUTNAM PREMIER INCOME TRUST and
PUTNAM INVESTMENT MANAGEMENT, LLC have each caused this
instrument to be signed on its behalf by its President or a Vice
President thereunto duly authorized, all as of the day and year
first above written.

PUTNAM PREMIER INCOME TRUST


By: ____________________________
Jonathan S. Horwitz
Executive Vice President,
Principal
Executive Officer and Compliance Liaison

PUTNAM INVESTMENT MANAGEMENT, LLC

	By: 	____________________________
	 	Stephen J. Tate
General Counsel and Chief Legal Officer

IN WITNESS WHEREOF, PUTNAM PREMIER INCOME TRUST and
PUTNAM INVESTMENT MANAGEMENT, LLC have each caused this
instrument to be signed on its behalf by its President or a Vice
President thereunto duly authorized, all as of the day and year
first above written.
PUTNAM PREMIER INCOME TRUST
	By: 	____________________________
Jonathan S. Horwitz
Executive Vice President,
Principal
Executive Officer and Compliance
Liaison
PUTNAM INVESTMENT MANAGEMENT, LLC
	By: 	____________________________
Stephen J. Tate
General Counsel and Chief Legal
Officer?

                                                               Schedule A
Not applicable


A 1

Schedule B

0.75% of the first $500 million of Average Net Assets;
0.65% of the next $500 million of Average Net Assets;
0.60% of the next $500 million of Average Net Assets;
0.55% of the next $5 billion of Average Net Assets;
0.525% of the next $5 billion of Average Net Assets;
0.505% of the next $5 billion of Average Net Assets;
0.49% of the next $5 billion of Average Net Assets;
0.48% of the next $5 billion of Average Net Assets;
0.47% of the next $5 billion of Average Net Assets;
0.46% of the next $5 billion of Average Net Assets;
0.45% of the next $5 billion of Average Net Assets;
0.44% of the next $5 billion of Average Net
Assets; 0.43% of the next $8.5 billion of
Average Net Assets; and
0.42% of any excess thereafter.




B 1
 1
 1




</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
